Recognition of Status. The Academy hereby recognizes Affiliate as the authorized Affiliate of the Academy for the geographic region that it represents; bearing all rights and privileges of affiliation with the Academy, including financial support described in Section 2 below, subject to such guidelines as may be developed by the Academy in accordance with this Agreement. Affiliate’s region shall be ("Affiliate's Region").
Recognition of Status. The Company recognizes that Employee has been gainfully employed and/or gainfull self-employed prior to association with the Company. Such prior employment includes a guarantee or the substantial likelihood of substantial future income. The Company desires to provide an incentive to induce the Employee to become employed by the Company, while recognizing that such employment will require Employee to forego and terminate his present earning abilities outside of the Company. The Company recognizes the professional expertise of Employee and understands that Employee would be unable, due to financial hardships resulting from the loss of income guaranteed by prior employment and/or relationships, to become employed by the Company upon terms which are less beneficial to Employee than those stated herein.
